Global business activity showed signs of slowdown in August -PMIs

📆 05/09/2023 17:34:00
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Global business activity largely slowed further last month as services firms struggled in the face of weak demand as rising prices and borrowing costs made indebted consumer rein in spending, a raft of surveys showed on Tuesday. In Britain, outside the European Union, its survey showed the sharpest business slowdown in seven months. Asia's surveys for August were also more downbeat with China's services activity expanding at the slowest pace in eight months as weak demand continued to dog the world's second-largest economy while in India growth lost some steam.

a day agoAustralia's export volumes jumped in the June quarter as foreign visitors swarmed the country, data showed on Tuesday, offsetting softness in household consumption and providing a much-needed boost to economic growth. Spending by tourists and foreign students is classed as a service export. The data from the Australian Bureau of Statistics showed net export volumes added 0.8 percentage points to GDP in the second quarter, more than twice analyst expectations.Top Democrats in the U.

Global shares rose on Monday, lifted by a growing expectations that the Federal Reserve will not raise interest rates again, and by hopes that China's steady drip feed of policy stimulus might stabilise the economy. "Taken alongside other measures announced in prior weeks, it does appear that momentum is building for policy changes in China that could put a floor under sentiment and lift consumption," Lazard chief market strategist Ron Temple said.

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Global business activity showed signs of slowdown in August -PMIsBy Jonathan Cable LONDON (Reuters) - Global business activity largely slowed further last month as services firms struggled in the face of weak demand ...
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